A Canadian woman who ran a cross-border Ponzi scheme has been fined $37m by the BC Securities Commission. Little Loan Shoppe, a payday loan storefront that migrated from Abbotsford, BC to Spokane, Washington defrauded investors through fundraising schemes, and the promise of risk-free returns for recruiting new investors. While she didn't attend her hearing, Doris Nelson's US trial guilty plea admissions to 110 criminal counts of wire fraud, mail fraud, and money laundering were enough to persuade the BCSC to add a hefty Canadian fine to her nine-year American prison sentence. The decision is available here.
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